I recently attended a presentation by Galantas Gold in London, and was very impressed with their potential.

Galantas is planning to commence gold production at it's Irish mine in 2Q 2006.



Some bullet points from the meeting;

- Galantas will be the first gold miner in Ireland.

- Mine construction is budgeted at under $1 million.

- AIM listing planned for the near future.

- Initial production plan for 30,000 ozs gold PA.

- Low cost producer, budget is for < $150 per ounce!




Galantas is currently listed on the Toronto Stock Exchange, but is planning a secondary listing on AIM, either late 2005 or early 2006.



An excellent recent article by Stephen Clayson of Resourceinvestor.com can be read below.

By Stephen Clayson
26 Sep 2005 at 08:55 AM EDT

LONDON (ResourceInvestor.com) -- Galantas Gold [TSXv:GAL], previously known as European Gold Resources, is entering the run up to early stage gold production from its Omagh project in County Tyrone, Northern Ireland, and intends to list on Londons AIM by the early part of next year to help facilitate its further ambitions.

Galantas CEO Roland Phelps sees AIM as Galantas natural home, and reports strong approval amongst current investors for an AIM listing. The company will look to raise its profile and broaden its institutional shareholder base through its AIM flotation, taking advantage of the greater depth of the London market.

The primary focus of Galantas right now is the establishment of gold concentrate production by the first quarter of next year from the Omagh project, which is slated to initially yield around 30,000oz per annum of gold from an open pit. A small, inexpensive plant will be constructed on site composed mostly of used, reconditioned machinery, and the company expects the cost of this to come in at less than $1m.

Phelps reports that Galantas has received firm offers from European smelters for concentrate from the Omagh mine, funding and government permits for the construction of which are already lined up, and predicts operating costs of less than $150/oz gold.

The successful establishment of gold production from the Omagh project would make it Irelands first gold mine, and would deliver a boost to those hoping to mine the yellow metal elsewhere in the Emerald Isle, the gold deposits of which can be seen as geologically related to those of Scandinavia. The gold mineralisation of the Omagh property was first discovered in the 1980s by Rio Tinto, and whilst falling below its required size threshold for development may still prove a solid asset for a company like Galantas.

The Omagh project presently hosts around 447,000oz of gold reserves and resources scattered across several deposits. Of these the largest, and that which is intended to support the first mining, is the Kearney deposit, which is estimated to contain 88,827oz of Proven/Probable Ore Reserve in material grading 7.52g/t and 267,150oz of Indicated Resources in rock grading 7.02g/t. Other deposits on the Omagh property are estimated to contain together 71,041oz of Indicated Resources in material graded at 6.72g/t and 20,399oz of Inferred Resource in rock graded at 4.68g/t.

Aside from the advent of cash flow from the mining of the Kearney deposit, what could offer notable upside to investors in Galantas is the expansion of the Omagh projects reserves and resources through further exploration. To this end, Europes first VTEM (Versatile Time-Domain Electro Magnetics, a proprietary airborne geophysical surveying technology of consultancy firm Geotech) survey was conducted recently on the Omagh property, and the selection and drilling of targets on the basis of this and previous geological work is Galantas next intended step after getting the mining of the Kearney deposit up and running.

A further positive aspect for investors in Galantas is the companys namesake brand of jewellery, which is currently sold through a small network of shops in Ireland. However, expansion is planned by Galantas into the U.K. and also into the U.S., the latter in the hope that Americans of Irish ancestry, initially marketed to in cities such as Boston and Chicago, will find the line particularly appealing.



Shares in Galantas presently trade pretty quietly in Toronto, where Phelps feels that perhaps a bias towards North America focused mining companies along with limited promotion has let Galantas remain somewhat unnoticed amid the crowd. This might in part explain the limited share price growth that the company has exhibited of late, despite edging nearer and nearer to production.

However, the prospect of a producing gold mine, albeit a small one, in the British Isles might garner quite some interest on Londons AIM. Coupled with the potential for significant exploration upside and increased revenue from jewellery sales driven by the rollout of the Galantas brand to new markets, this might make Galantas Gold a notable flotation for London investors next year, or for Toronto investors an investment worth considering right now.

Article reproduced by kind permission of Resourceinvestor.com.

Resourceinvestor.com homepage CLICK HERE




Latest pictures of the mine showing the completed processing plant.

For Galantas Gold Corp. corporate website, click HERE

Video of Galantas' Omagh operations - CLICK HERE

Email : info@galantas.com





UK investors visit the Galantas Minesite 26th May 2006.

GAL have issued an operational update - everything seems to be going to plan!
-------------------------------------------------------------------------------



Galantas Gold Corporation-Omagh Gold Mine: Operational Update
Monday June 26, 10:00 am ET


TORONTO, ONTARIO--(CCNMatthews - June 26, 2006) - Galantas Gold Corporation (TSX VENTURE:GAL - News; AIM:GAL) announced today substantial progress in construction of its Omagh Gold Mine.
ADVERTISEMENT


Flotation & Gravity Gold Processing Plant

- Mill Building steel frame & cladding is complete.

- Equipment foundations and floors are concreted.

- Ball Mill is installed.

- All flotation cells are installed.

- Crusher steelwork and conveyors are in final stages of fabrication.

- Tailings thickener is fabricated.

Infra-structure

- Rock, till and peat storage areas have been created.

- Access and haul roads are built.

- Site Drainage has been installed.

- Excavation of peat for the first paste tailings cell is complete. Difficulties were encountered in excavating an increased depth of peat over that expected. This has extended the period of excavation of the cells. Preparation for installation of the cell liner is in progress.

- A second and third cell have been part excavated.

- Polishing pond is in construction

- Kearney vein is exposed for mining over approximately 450m.

Remaining work in progress includes completion of the tailings facility, electrical installation and installation of pumps and tankage.

Core Drilling Status

- A diamond drill program is underway with an emphasis on targets in or close to the Omagh property.

- The program includes drill holes within the Kearney vein, Elkins Vein and some sterilisation drilling related to future facilities.

- The first holes achieved 100% recovery of the core. Cores have been split and mineralised sections are with OMAC Laboratories Ltd of Galway, Ireland, a certified CCRMP laboratory, for analysis.

- Mr. M.J. (Moe) Lavigne, P.Geo, is the qualified person overseeing the drilling program.

Personnel

Karl Martin (B.Sc.Hons) is managing construction work and has been appointed Mine Manager. Andrew Warburton (B.Eng.Hons ACSM) is managing the Flotation and Gravity Plant installation and has been appointed Mill Superintendent.

Commissioning and Cash Flow

Commissioning is expected in late summer 2006 with first cash flow from the project anticipated in the early Autumn. Ramp up to full production is expected to be complete in a 3 - 6 month period thereafter.

When complete, the mine will be Ireland's only producing gold mine with production of up to 30,000 ozs of gold annually, mainly within sulphide concentrate, for shipment and sale to third party smelters. Additional revenues are projected to derive from associated lead and silver credits. The processing facility is designed to accept a head-grade of 20g/t gold from an open pit on the Kearney vein, with other nearby deposits to come on stream as developed. Sales of gold produced from the gravity section of the plant to the in-house jewellery business are also projected.

The Galantas jewellery business sells certified Irish gold jewellery via a network of retailers and direct to the public over the internet at www.Galantas.com Test marketing of Galantas certified Irish gold jewellery was conducted with gold produced from bulk samples from the Kearney vein. Marketing will re-commence as gold moves through the jewellery production chain although principal management focus will remain with the mine until stable production is achieved.

Cash flow from the project will be used to increase the resource base on the property through exploration and mine development, to expand mine production in stages, and to add value by marketing and selling certified Galantas(TM) Irish gold jewellery.

This press release includes certain "Forward-Looking Statements" within the meaning of the US Private Securities Reform Act of 1995. Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements".

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release.

GALANTAS GOLD CORPORATION
TSX Venture Exchange : GAL
London Stock Exchange AIM : GAL
11th July 2006

Galantas Reports High Grade Gold at Omagh Open Pit Gold Mine

Analytical results of drill core retrieved by diamond drilling and one channel
sample from the Kearney vein have been received. The detailed results are
attached.

The channel sample was collected on the southern extension of the Kearney vein,
from a gap in between the recently released results (April 5, 2006) and
historical sampling by Rio Tinto. The weighted average grade of the sample was
43.94g/t gold over a width of 1.63m calculated at 3g/t cut-off.

Drilling on the northern half of the Kearney vein intercepted 4 gold bearing
zones. Hole OM-DD-06-02 intersected 11.62g/t gold over 3.16m including 23.14g/t
gold over 0.74m. Hole OM-DD-06-03 intercepted 9.64 g/t gold over 5.66m including
12.52g/t gold over 3.17m. These weighted average calculations were made at a
3g/t cut off and where required have been diluted to a minimum mining width of
0.35m

The samples were taken and the drilling carried out under the supervision of
M.J.Lavigne P.Geo, (Vice President, Galantas Gold Corp), the Qualified Person
for the program. Sampling methodology, security & verification followed standard
procedures previously detailed on April 5th 2006 and the samples were analysed
at OMAC Laboratory Ltd (an independent, certified CCRMP laboratory) in Galway,
Ireland.

Mr.Lavigne said," The drilling program is designed to support the expansion of
the Omagh gold mine currently being constructed. Data collected from drilling
and channel sampling will be used with information on mining and processing
costs established in the early days of operation to conduct a pit optimization
analysis. This will establish a revised pit depth and reserves. In general, the
increase in gold price over the last two years has improved the economics of
gold extraction so that open pit mines can operate at greater depths than the
planned Kearney pit. In addition to expanding knowledge of the Kearney vein, the
on-going drilling campaign will be testing other structures and carrying out
some sterilisation drilling."

The company had earlier announced that its production facility was scheduled to
undergo commissioning late in the second quarter of 2006, but outlined in June
that commissioning is now expected to take place during the third quarter of
2006. The operation is expected to have a capacity to produce 30,000 ounces of
gold per year when brought fully on stream and will be Ireland's only currently
operating gold mine.

OM-DD-06-02 Kearney
Vein
Grade Au
From m To m Width m g/t

24.04 24.19 0.15 19.00
45.65 46.05 0.40 10.36
46.87 48.07 1.20 7.40
50.19 50.65 0.46 7.72
53.66 54.24 0.58 16.44
54.24 54.41 0.16 46.72




OM-DD-06-03 Kearney
Vein
Grade Au
From m To m Width m g/t

32.63 32.75 0.12 9.80
32.75 33.28 0.53 23.32
33.28 33.36 0.08 8.24
33.36 35.03 1.67 10.80
35.03 35.64 0.61 6.16
35.64 35.8 0.16 23.16
37.89 38.28 0.39 3.09
38.74 39.44 0.7 3.83
41.65 42.1 0.45 3.74
42.33 43.05 0.72 12.00



Channnel Sample South Kearney
Line 24 Vein
From m To m Width m Grade Au g/t

1.23 1.54 0.31 5.40
1.54 1.87 0.33 39.72
1.87 2.15 0.28 84.68
2.15 2.46 0.31 94.38
2.46 2.86 0.4 9.68


Drill Hole OM-DD-06-01, located a km away from Kearney, and testing a
geophysical target, disclosed highly sheared basic rock barren of sulphide/gold
mineralisation.

A summary of the description of geology, mineral occurrences etc can be found
within Report 851a ACA Howe July 21st 2003, by Ewert, Armstrong & Langlands with
additional information in a Howe letter of 27th September 2004 by
Dr.C.Armstrong, both of which are filed on SEDAR.

I'm in.

KEAYDIAN,

Welcome, I think GAL will certainly reward the patient amongst us.

When I look at a company to invest in, management quality is paramount IMO, and GAL tick that box IMO.

Once minestart is confirmed, sometime in Q3, I think we will see a nice boost to the price.

When I visited the mine, a few weeks ago, preperations seemed well advanced, so I am confident they will more or less keep to this revised timescale.

Andy.

Thanks, looking forward to Q3.

;o)

Looks like I famous, yes the trade on GAL today is all mine.

KD.

GALANTAS GOLD CORPORATION
TSX Venture Exchange : GAL
London Stock Exchange AIM : GAL
14th July 2006

GALANTAS GOLD CORPORATION ANNOUNCES
PRIVATE PLACEMENT

The board of Galantas Gold Corporation ("Galantas") is pleased to announce a private placement pursuant to which
Galantas shall issue up to 12,800,000 Units of Galantas at $0.25 per Unit (the "Offering"), with an over-allotment of up
to an additional 1,200,000 Units at $0.25 per Unit (the "Over-Allotment Option"). The issue of up to 12,800,000 Units
of Galantas includes up to 2,000,000 Units for subscribers specifically identified by Galantas (the "President's List").
Each Unit will consist of one common share and one common share purchase warrant of Galantas. Each share purchase
warrant will entitle the purchaser to purchase one common share of Galantas at a price of $0.32 per share for a period
of twenty-four months from the date of the closing of the private placement. The shares will carry a 4 month minimum
hold period.

Under an engagement letter dated June 27, 2006, as amended, Union Securities Ltd. of Ontario, Canada ("Union"), agreed
to act as agent for the private placement pursuant to which Union shall receive 8% in cash commission based on Units
sold under the Offering and the Over-Allotment Option (excluding Units sold pursuant to the President's List) and 4% in
cash for Units sold pursuant to the President's List payable at closing. In addition, Galantas will issue to Union, at
closing, compensation options (the "Agent's Compensation Options") equal to 10% of all Units sold pursuant to the
Offering and the Over-Allotment Option (excluding Units sold pursuant to the President's List) and 5% of all Units sold
pursuant to the President's List. Each Agent's Compensation Option entitles the Agent to purchase one Unit of the
Company at $0.25 per Unit at any time prior to the date that is 24 months from the Closing Date.

The private placement is subject to the completion of final documentation and the approval of the TSX Venture Exchange.
It is anticipated that the date of the closing of the private placement will be on or about July 25, 2006. Galantas
will use the gross proceeds of the private placement to expand exploration and development of the Omagh Gold Project in
Northern Ireland. An application will be made to admit any new shares issued under the placing to trading on AIM on the
same day that they become eligible for trading on the TSX Venture Exchange

This press release, required by applicable Canadian securities law, is not for distribution to U.S. news services or for
dissemination in the United States, and does not constitute an offer of the securities described herein. These
securities have not been registered under the United States Securities Act of 1933, as amended, or any state securities
laws, and may not be offered or sold in the United States or to U.S. persons unless registered or exempt therefrom.

This press release includes certain "Forward-Looking Statements" within the meaning of the US Private Securities Reform
Act of 1995. Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such
various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will
prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of
this press release are cautioned not to place undue reliance on these "Forward-Looking Statements". All dollar amounts
are Canadian dollars unless otherwise noted.

The TSX Venture Exchange Inc. has neither approved nor disapproved the information herein contained.

Galantas Gold Corporation
Jack Gunter P.Eng - Executive Chairman
Roland Phelps C.Eng - President & CEO
Moe Lavigne P.Geo - Vice President
Email:

info@galantas.com

Website:

www.galantas.com


Telephone: +44 (0) 2882 241100

Bishopsgate Communications Ltd.
Dominic Barretto, Nick Rome
Website:

www.bishopsgatecommunications.com


Telephone: +44 (0) 207 430 1600

ARM Corporate Finance Limited
Nick Harriss Telephone: +44 (0) 20 7512 0191

Lewis Charles Securities Limited.
David Scott Telephone: +44 (0) 20 7065 1150

Hey up!

Going up.

Keaydian,

Here is an interview with Roland Phelps on the Wall ST reporter, recorded 7/8/06.

Click HERE

http://www.wallstreetreporter.com/profile.php?id=19507#

Many thanks Andy.

Nothing happening, I'm jumping ship.

Price no doubt will rise as soon as the sell has been executed

Keaydian,

GAL is a longer term play IMO, and certainly not a trading share.

I don't expect anything to happen until October to be honest.

Except the interim results of course!

Click HERE

http://www.ceoclips.com/media/ceo_galanta_300.asx

Minesite.com feature GAL in their latest article.

Source click HERE


Minews Story Date: August 31, 2006

Galantas Gold Moves Towards Production Of Certified Irish Gold Jewellery.

By Jack Hammer.

Theres plenty of activity to be seen on Galantas Golds Omagh property in County Tyrone at the moment as the company gears up towards the stated aim of commissioning the mine by late summer and first cash flow by early autumn. Mill superintendent Andrew Warburton said on a site visit on 18th August that the plant should be up and running within six weeks. The clock is ticking on that, but most of the equipment is already in place, including a third generation mill plundered from the old Welsh Gold operations. Indeed the old British virtue of make do and mend is very much in evidence here as the shaft sinking kibble from Welsh Golds operations is here too, re-incarnated, with appropriate additional holes, as a ball mill discharge sump. Its all looking very spick and span, indeed the final licks of paint were being applied to the upper end of the gravity circuits even as Mr Warburton, and fellow directors Roland Phelps, Jack Gunter and Moe Levigne reminisced about the old Welsh Gold kit.

The Welsh Gold connection is a key plank in Galantas strategy. Once Omagh is up and running Galantas will use the free gold it can separate out in its new plant to supply a retail jewellery business where value will be added by attaching the label certified Irish gold to the product. How much impact this will have on the top line remains to be seen, but Roland Phelps, who founded and ran Welsh Gold, at least has experience in that sphere, which is more than can be said for most miners. AngloGold, which has been pressing for other companies in the gold mining business to move into marketing, to the extent of hosting elaborate gold-based fashion shows every Indaba, would no doubt approve.

But of course the key thing is to get the gold out in the first place. Omagh is not a new project. Rio Tinto worked the ground over in the 1980s under the watchful eye of Galantas chairman Jack Gunter who ran Rios operations in the area at that time. What caught Rios eye initially still remains a tantalising possibility for Galantas boulders running at three ounces per tonne gold, dislodged from an as yet undiscovered vein. Rio nosed around for a while, but pulled out during one of its many retrenching programmes. That left the field open for Jack Gunter to pick up the Omagh property for himself and eventually team up with Galantas.

According ACA Howe estimates the company currently has a proven and probable reserve on the main Kearney vein of 367,310 tonnes grading around 7.52 g/t gold at a width of 4.43 metres. That goes down to a depth of 37 metres, and gives just 88,000 ounces. Howe also estimates that theres an additional 1.18million tonnes grading just over 7 g/t down to a depth of 137 metres to give a further 293,000 ounces. However, four selectively mined bulk samples delivered grades in excess of 50 g/t, a discrepancy only partly explained by selectivity, dilution, and gold loss during original sampling. Inhomogeneous gold distribution is the most satisfactory explanation, as Moe Levigne, the grandly titled vice president of exploration concedes, we do have gold we cant account for. Its on that basis that he says, pointing to the plant, That brown building over there is our own truth machine. You really dont know what the economics will be until you get the throughput.

At the moment the cost estimates are production at US$150 per ounce, and the plan is to put 150 tonnes of ore per day through the plant. If the free gold content isnt high enough to feed the jewellery business the company will just reacquire gold from the concentrate once its been smelted at a smelter, the whereabouts of which has yet to be disclosed. Its a simple enough business plan, if small scale, and if its successful itll make Galantas the UKs one and only gold miner.


Companies featured in this Story
Galantas Gold Corp (TSX.V, AIM-GAL)

Latest pictures form the Kierney vein, Omagh minesite.

Production startup is imminent, by the end of October I believe.

Some more new photos have appeared on the website.

Fri September 22, 2006

Galantas Develops Omagh Gold Mine & Drills 10.05g/t Gold over 6.55m

--------------------------------------------------------------------------------

Galantas Gold Corporation, which is developing Irelands only gold mine at Omagh, Co.Tyrone, announces progress in building its processing plant and associated infrastructure. It also releases additional exploration results.

Highlights

Management expects commissioning to commence within one month.
Cash flow from the sale of flotation concentrate is expected in fourth quarter.
A weighted average grade of 16.25 g/t gold has been calculated over the 150m segment channel sampled in this programme on the 850m long Kearney vein.
Drill hole 06-6 carried an intercept of 10.05g/t gold over 6.55m
Mine Construction Progress

The process plant building is complete with internal floors and partitions. Flotation cells and tank superstructure have been installed. Process water & fresh water storage tanks are in place. Protective bunds for the concentrate thickener and diesel tank have been built and the concentrate thickener assembled and installed. The concentrate handling arrangement, with Perrin filter press, is complete. The tailings thickener, with skid-mounted steel bund, is fabricated and ready to be towed into place adjacent to the first paste cell. Fabrication works associated with the crushing circuit are expected to be completed in the next week. One generator is set up with work continuing on a second. The electrical wiring and plumbing of the plant is also well underway.

The recirculation (polishing) pond for final process water treatment and phase 1 paste cells for storage of thickened tailings have been excavated and berm walls are being constructed with materials screened on site. A fresh water storage pond, a channel for diverting a stream (Kerr Burn) away from the site and the main haulage road from mine to mill are completed.

Management expects that commissioning will commence within 1 month but cautions that unforeseen commissioning delays could occur. Cash flow from the sale of flotation concentrate is expected during the fourth quarter (Autumn).



Results of Exploration

The core drilling program already announced is continuing, the tenth hole in progress. Results of the first three holes were reported on 11th July 2006. Assays have been received for holes 06-4, 06-5 and 06-6 which were on the Kearney vein. Hole 06-4 missed the target, likely due to fault displacement.

Hole 06-5 had three significant intercepts at down hole depths of 23.37m, 64.28m and 86.0m producing the following results; 12.16 grams per tonne (g/t) gold over 37 cm, 20.00 g/t gold over 35cm and 41.92 g/t gold over 68cm.

Hole 06-6 carried an intercept of 10.05 g/t gold over 6.55 m (interpreted as 6.3m true width), including 39.04 g/t gold over 1m at a down-hole depth of 65.48m (interpreted as a 45m vertical depth). Assays for holes 06-7, 06-8 and 06-9 are pending.

Channel sampling has been carried out on part of the recently stripped southern portion of the Kearney ore-body that was not historically exposed. The channel sampling was also extended into areas previously historically sampled by Rio Tinto, to enhance mining grade control procedures. Some of this channel sampling has been carried out over parts of the Kearney Vein that were previously assigned indicated resource status and the work will permit this to be converted to reserve status in due course. The sampling includes channels cut under the supervision of ACA Howe and M.J. Lavigne. The channels were cut at intervals from 1 - 3m along the strike of the vein. Calculations used a cut-off grade of 3 g/t gold and a minimum mining width of 0.3m. Where grade exceeded 3 g/t at less than 0.3m width, grade was diluted to 0.3m.

A weighted average grade of 16.25 g/t gold has been calculated over the 150m segment sampled in this program on the 850m long Kearney vein. A more detailed sampling report is being prepared by ACA Howe.

The samples were taken and the drilling carried out under the supervision of M.J. Lavigne P.Geo, (Vice President, Galantas Gold Corp), the Qualified Person for the program. Sampling methodology, security & verification followed standard procedures previously detailed on April 5th 2006 and the samples were analysed at OMAC Laboratory Ltd (an independent, certified CCRMP laboratory) in Galway, Ireland. Readers are referred to the ACA Howe Report (July 21,2003), filed October 30,2003 for general exploration, background, previous work and other information.

President & CEO Roland Phelps said, The team is close to achieving gold production at Omagh. With a continued exploration program to build resources, we expect to show that Ireland, with its secure licensing regime, is host to a significant gold camp.

Visitors to the Resource Investment Conference on September 24th and 25th at the Toronto Convention Centre are invited to hear the Galantas presentation in Workshop2 at noon on the 24th or meet management at booth 905.

plaudits to Ofex punter on ADVFN.




Amongst the string of junior mining companies, one that no doubt will appeal in particular to the Irish around the world is Galantas Gold, which is close to bringing its Omagh gold mine to production in Northern Ireland. The company is also unusual in that it plans to work any free gold recovered in its plant into its own design gold jewellery through a wholly-owned subsidiary company.

The Omagh deposit was initially looked at by Rio Tinto, which discarded it as it didn't meet its size requirements despite having considerable merit. For a junior mining company which can set up the operation at low cost as a relatively small scale, and high grade, gold mining operation, it is proving to be an attractive prospect.

Significantly, the original guiding light for the company, and chairman, is Jack Gunter, formerly in charge of exploration of the project for Rio's exploration arm, while the President and CEO, Roland Phelps, has also had experience with mining and adding value to gold production through the Gwynfynydd mine in North Wales, and its branded Welsh Gold, in the past.

On Friday, Phelps, said, "The team is close to achieving gold production at Omagh. With a continued exploration program to build resources, we expect to show that Ireland, with its secure licensing regime, is host to a significant gold camp."

The accompanying report went somewhat further saying that the company management expected its process plant to be commissioned within the next month and cash flow from concentrate sales is expected to be achieved in the fourth quarter.

Galantas also reported some further high grade channel samples and core drilling results which add a little more to the project's viability.

The material to be processed is relatively high grade by today's standards. Reserves and resources measured and indicated by drilling and trenching on the main Kearney orebody are around 1.5 million tonnes grading over 7 grams per tonne, with good prospect for expansion of reserves at depth and in a number of other already delineated mineralised areas inside the company's mining concession. The initial deposit to be mined is shallow it apparently can be worked by excavators without blasting and is small, but ideal for a junior company operation of the type planned. Indeed the company proposes to mine initially to a significantly higher grade than the defined ore tenor by raising the cut-off grade of mined material to help maximise early cashflow and profits.

Phelps is reported to have stated cost of production could be under US$150 per ounce of gold produced from its 52,500 tonne per year concentrator. Output is expected to be around 30,000 ounces per year (with about double that amount of silver). The orebody also contains lead. This production target suggests that the head grade to the concentrator will be in the order of 18-20 grams per tonne in the initial stages, which would have to be achieved through selective mining, although this might seemingly reduce the overall tenor of the remaining reserves.

The main gold/silver/lead sulphide flotation concentrate will be sold to smelters and a small gravity plant will be used to extract the free gold in the ore, with this going to the company's subsidiary, Galantas Irish Gold which is the jewellery design, manufacturing and marketing unit mentioned above. This free gold will be designed into certified, 18-carat Irish Gold jewellery and marketed directly to retail channels under the Galantas brand. Test marketing of Galantas Irish gold jewellery from gold extracted from bulk sampling was extremely successful.

Galantas has also floated on AIM to give it broader investor access. Its initial listing was on the TSE Venture Exchange.

Ireland has always encompassed legends about pots of gold maybe Galantas, which means 'elegant thing' in Gaelic will provide these but for a Canadian registered company rather than for the leprechauns of legend. Much will depend, though on defining further high grade reserves if the mine is to have a reasonable life.

http://metalsplace.com/metalsnews/?a=7217

Andy, this looks exciting in itself - and thanks for your contributions on HNR today.

I just wanted to ask if you have ever cast a glance at Ariana Resources (AAU). They are finding similar grades of gold in trenches (anywhere from 6 - 16 g/t Au, plus bits of Ag and Cu) in Turkey and are due to announce the results of deep drilling in late Nov. Market cap is currently very low at 6m and their resources and portfolio are potentially quite large.

Just a thought - make of it what you will :o)

Good luck with GAL too!
ST.